we have come a long way, cutting red tape, improving the overall environment for investment. it's a balance. but we feel that we're on the right track. >> you know, when you have u.s. lawmakers are seeing what happened to your economy doing the austerity measures, it's given pause to how we handle our own fiscal issues. and why there is this sense of -- that the united states is afraid of doing -- being as astere as you guys were. basically you went back into recession. >> we now emerged from it. we cross our fingers we will stay out of it. you have advantages. you have the reserve currency. you're the biggest economy in the world. we did not have that. we're not part of the eurozone. if we had not stuck with the deficit reduction program our borrowing cost for sterling would have gone through the roof whereas partly because, largely because of the program that he is pursuing now, he can borrow money for the british state at lower rates than possible in 600 years. that makes a difference. >> let's talk about the two big crises that i think are going to be on the desks of this